A Tax Certificate is a lien on property created by payment of the delinquent taxes
due. It is not a purchase of property. Florida Statutes require the Tax Collector
to conduct a sale of tax certificates beginning on or before June 1 for the preceding
year of delinquent real estate taxes.
Prior to the Tax Certificate Sale, the Tax Collector must advertise the delinquent
taxes for three (3) consecutive weeks in a local newspaper of general circulation.
The amount of the certificate is the sum of the unpaid real estate taxes and the
non ad valorem assessments, including 3% penalty, 5% Tax Collector's commission,
and advertising costs.
Certificate bidding begins at an 18% interest rate and is bid down until the certificate
is sold to the lowest bidder. Interest is paid at the rate of the winning bid. When
a tax certificate is redeemed and the Interest earned on the face amount is less
than 5%, and mandatory charge of 5% Interest is due.
Tax Certificates on land which has been granted a homestead exemption for the year
in which the delinquent taxes were assessed and which have a face value of less
than $250 shall not be sold to the public at a tax certificate sale. These certificates
shall be issued to the county and shall bear Interest at 18% Interest per year.
Once the face value and accrued Interest exceed $250, the certificate may be sold
to an individual. The 5% minimum mandatory charge does not apply when a certificate
is purchased from the county.
Tax Certificates are dated as of the first day of the tax certificate sale and expire
after seven (7) years. Any tax certificate can be cancelled or reduced if errors,
omissions, or double assessments are made.
A listing of certificates purchased are provided to each buyer.
All Tax Certificates must be redeemed by certified funds in US dollars. Failure
by the property owner to redeem the certificate with the twenty-two (22) month period
prescribed by law can result in the loss of the property at a Tax Deed Sale.